LATEST THINKING

MOVING TO THE CLOUD

Cloud technology offers
new approaches to
profitable growth for
European banking firms
that shift their thinking to
focus on technology, rather
than finance, at the core of
their business.

Legacy systems and outmoded operating models place firms at risk of being bypassed by faster, more agile competitors. Firms are encouraged to implement a comprehensive and well-executed cloud strategy to capture the full potential of this business asset. While there is no one-size fits-all strategy, using cloud as the basis for a more fundamental transformation can help banks be more competitive and innovative in our digital age.

This report explains different paths to the cloud and why now is the time to make an aggressive move.

Working on a case by case basis, retail banks have used cloud to rationalize distribution channels and access layers; accelerate product development; reduce core costs; and consolidate services.

CLOUD-CREATED OPPORTUNITIES FOR BANKING FIRMS

Cloud is a win-win for banks. Firms that take a comprehensive, enterprise-wide approach to cloud strategy can develop a significant competitive advantage over firms that tackle cloud one project at a time.

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